Page 23 - CCCA62_2007

CCCA62_026-033.qxd:CCCA_V1No2_Recruiting-V1.qxd 09/14/2007 03:10 PM Page 33 Cover Story initiative that lands it in hot water. Typically, the corporate leader- on the mood of its many critics. Major investors threatened to sell ship will make a cost/benefit analysis of any given initiative. And their shares if the company did not pull out. Finally, the company initially, much of the risk involved might even be foreseeable. But buckled under pressure and in 2003, sold its stake in the contro- to measure the impact of that risk on a company’s reputation is versial oil project to India’s national oil company. “We tried to ride another matter, particularly in an unstable foreign land. out the storm, but eventually we sold, because we couldn’t con- In 1999,whenTalisman Energy became the operating company for stantly be facing these challenges,” says Sheppard. a number of oil concessions in Sudan,the country was already 20 years Sheppard still believes that a better outcome was possible had into a complex civil war. Before long,Talisman’s 25% stake in the the company encountered greater success in pushing for open Greater Nile Oil production and pipeline project drew heavy criticism dialogue with protesters.“But things can get beyond your con- from human rights groups claiming the energy company was com- trol very quickly,” she says. “The overall risk assessment is that plicit in the government of Sudan’s war effort. “In the midst of these sometimes what you think is manageable can have depth beyond circumstances, every day new information evolved that you couldn’t what you can actually handle.You have to make the tough deci- verify,” recalls Jacqueline Sheppard, executive vice-president for cor- sions and ask yourself whether it’s solvable for our purposes.You porate and legal at Talisman in Calgary. She adds that much of the have to ask yourself:‘Is it worth spending all that time?’” information reported about Talisman was fabricated.“We could start Talisman’s lessons in Sudan are a guidepost for all global cor- to respond, but the various angles and agendas were overwhelming.” porations and their GCs: it’s a high-risk world, and multination- The company’s leadership felt that if it could develop better als don’t always know where the next pitfall lies. All the more relations with its detractors and foster an atmosphere of trust, it reason why the global general counsel who are entrusted with would be in a better position to address real needs on the ground some of the toughest jobs on the planet are the unsung heroes and in the local communities. That Talisman sponsored various of globalization. humanitarian projects, aimed principally at building health and educational infrastructure, during its stay there, had little bearing Yves Faguy is a freelance writer in Montreal. Fi na nci al St re ngt h Ra tin gs: D e mot ec h, I nc . A ” | Fi tch Rat ing s A + | L ACE Fi nan ci al A Over the past 100 years, Stewart Title has become range of endorsements allows for the maximum one of the largest, most reliable title insurance possible coverage. Commercial experience and companies in the world. However, global presence expertise. Multi-site capabilities. These enable us and financial strength tell only half the story. It’s to provide title insurance for even the most com- how we work that sets us apart. plex transactions. Stewart Title’s commercial team deals exclusively At Stewart Title, we know it’s our relationship with with commercial transactions. Our experienced our clients that determines our success. That’s why underwriters will work with you to provide unsur- service is the foundation of our business and passed, customized policy coverage. A wide integrity, the keystone in all our dealings. Call us today or visit www.stewart.ca. Canadian Head Office (Toronto): (888) 667-5151 Atlantic Canada: (888) 757-0078 Western Canada: (866) 515-8401 Québec: (866) 235-9152 AUTOMNE 2007 CCCA Canadian Corporate Counsel Association 33